Bush isn’t the only ‘total failure’

Nancy as a young tart

Congreff rubber stamped virutally every piece of legislation Bush and his cronies wanted enacted.  Congreff stood by and did nothing while parts of America engorged itself on a diet of debt, fraud, and larceny while Congreff just stood by with their collective finger up their fucking ass while the rest of us were yelling to try an get your attention and pointing out wha was just so wrong.

Nancy, dah-ling, you are as much a ‘total failure’ as the chimp-in-chief. You and 95.6% of your colleagues.

You Bitch. [AP]

WHO IS RLY DA BOSS?

DO NOT SEE CONGREFF

No confidence

Another fine mess

A corrupt politician in Washington?

Shocking, isn’t it?

“When she arrived in Congress last fall, Rep. Laura Richardson sought out a vehicle that would match her newfound status.

“She settled on a 2007 Lincoln Town Car - the choice of many representatives who lease their vehicles at taxpayers’ expense. But hers was distinct: at $1,300 a month, it was the most expensive car in the House of Representatives.

“Richardson, a Democrat who represents Carson, has since become known for defaulting on two home loans and losing a third house - in an upscale neighborhood in Sacramento - at a foreclosure auction.

“But her history with vehicles has been similarly fraught. When she was a councilwoman in Long Beach, she crashed her BMW, abandoned it at a body shop, failed to pay a prior repair bill, and then racked up 30,000 miles on a city-owned hybrid in one year - apparently violating a policy against personal use of city cars.” [Daily Breeze]

She better get better at this graft and corruption business otherwise people are gonna get mad and recall her… for being lousy at the bestest, most funnest part of her job: stealing from taxpayers. We judge a politician around these parts by how smooth and greedy they are, and this piker bullshit just ain’t cuttin’ it.

You gots to get better at coverin’ your tracks, and those of your homies, girlfriend. What are you, the leader of the gang that couldn’t shoot straight?

Maxine, maybe you can straighten her out?

Poster boy for the great unwinding

Bodacious murse, girlfriend.

[Hat tip]

Let’s play pump the bunny

Shameless.

“It may well turn out to be the largest war profiteering in history.”

It’s a story not being reported here, so let’s turn to the BBC:

“A US gagging order is preventing discussion of the allegations.

“The order applies to 70 court cases against some of the top US companies.

“While George Bush remains in the White House, it is unlikely the gagging orders will be lifted.

“To date, no major US contractor faces trial for fraud or mismanagement in Iraq.”

Your tax dollars magically transformed into McMansions and Bentley’s for the politcally connected. The next war should be on corruption in politics, doncha think?

That’s gratitude for you

So there.

Bubblicious and gamey

Finally someone hit the nail on the head about this bogus “oil crisis.”

“Record high prices without record low oil inventories, analysts saying that so much money flows into oil commodities that it gives the impression of shortages, when in fact no shortage exists. “

“There it is in plain sight for everyone to see, exactly what I’ve been reporting for the past few years: Many individuals who are investing in oil and natural gas futures are going out in the media and trying to convince the American public that either we are out of oil or there is a serious supply shortage of crude against worldwide demand. The question is: Does it surprise you to discover that the US Senate investigated the rigging of the oil market by speculators in the summer of 2006 – and concluded that there was no supply and demand problem with oil? Did you know that their conclusion was that speculators were responsible for a 70 percent overcharge in the price of oil in the months leading up to the summer of 2006?”

“in Texas, under deregulation of our public utilities, our electric rates can be set using the futures market for natural gas, so the manipulation of the natural gas market spelled trouble for us. Consider this, by 2006, according to www.powertochoose.org, electricity rates for us had climbed to 15 cents a kilowatt-hour due to the high cost of natural gas. But, that was the exact same time period that Amaranth was proven to be manipulating the market and sending natural gas futures through the roof. Two months later the hedge fund collapsed and natural gas prices fell. Therefore, most Texans paid higher electric bills for Amaranth’s manipulation of the natural gas market.”

-Ed Wallace [Part 1] [Part 2]

Not to mention that California electricity rates spiraled out of control through artificial shortages engineered by Enron (“Welcome to Hell, Ken”) in the “dregulated” electricity market.

It is a fact gasoline prices at your local station are set today using futures prices as a benchmark. If you think that the gas you’re pumping into your car today was refined from oil bought and paid for at today’s oil prices, you would be wrong, sir. It was refined from oil that was bought a long, long time ago at a much lower price. The actual profit they are making is a metaphorical slap in the face. Maybe we need that to wake us up to this Enron-style scamming that has become the US economy.

The prices at your local are quick to rise and slow to fall- so the oil companies get to skin you going both ways.

You may ask yourself, “Why doesn’t are gummint do something about it (instead of that numbskull OPEC lawsuit and ‘investigating’ unimportant but grandstand-worthy topics like steroids in professional sport)?”

Well, seeing as the state and federal governments are skimming a percentage, and today’s prices are at all-time record highs, it isn’t exactly in their best interest (as you’ve no doubt surmised, neither are we, the voting public).

If you ever harbored the illusion that when you fillerup you were getting what you paid for (cost of production) plus a reasonable profit, think again.

#I’m just a a paper tiger

I think it is best to close now with the following thought:

“We started as a society that worships hard labor and the basic business ethic of building value into the goods you create. How’d we get from there to worshiping Wall Street’s billion-dollar boys — who create nothing, build nothing, own nothing and deliver no goods, and yet can throw so much money into products made by others that they determine what we consumers will pay for those goods?”

[Hat tip]

–

“this has all of the ear marks of a speculative corner of the oil market by parties unknown.” -Jim of San Marcos

A Congressional Specuvestard?

“That’s disgusting!” (to quote Tangelo Orangezillo)

“If Rep. Richardson is going to base legislative proposals on her own experience, then it matters to the rest of us what that experience was. So click the link below if you can stand to hear about it.” [Calculated Risk]

UPDATE
Congresswoman Richardson defaulted on 3 CA properties(!)

UPDATE #2
Did Rep. Richardson fraudulently overstate her income?

The public has a right to know!

–
“We cannot defend freedom abroad, by deserting it at home.” -Edward R. Murrow

“As a nation of prudent and wise people we cannot encourage or condone reckless investing by allowing specu-investards to write laws rewarding their own foolhardy behavior and bad judgement.” -Paco Bell

Who thought owning your own home

would become the AMERICAN NIGHTMARE!

BUHUHAHAHAHAHAHA!

Seriously, a so-called “healer and metaphysical mystic” (I shit you not) got herself a liar loan.

Her lawyer- yes, she had one- says he expressed reservations BUT STILL she proceeded. The lender accepted her account of her (phantom) income. Then, using her properties like an ATM she MEWed her way into a total of 1.6 million in debt- and is now facing foreclosure and bankruptcy.

“Ms. Sotire financed much of her debt in 2005 and 2006 through ‘no doc’ loans, where she didn’t have to verify income. She said brokers seemed satisfied when she told them what she believed her potential income to be, based on a certain number of clients she estimated she could see each day.”

How is this NOT fraud?

“She’s very strong-willed and she was going to go through with it.” -her lawyer.

By the way, a little bit of advice to Mrs. Sotire: if you’re paying a lawyer to give you advice, try putting on your listening ears and… well, shit, why waste the bytes, after all she knows what’s best.

Why! oh! why! tell me why! should either her or the lender get bailed out?

What’s so bad about foreclosure anyway? Take your lumps, get on with life, and stop acting like big babies!

The death of a spouse or a child, divorce, sex difficulties, pregnancy, injury from a car accident or fall… even losing a job all have a deeper impact on the human psyche than foreclosure- something you can walk away from physically unscathed. Sure it ‘hurts’, the way a traffic fine ‘hurts’ or an audit from the I.R.S. ‘hurts-’ which is not as much as the sting from pulling a band-aid off real fast.

Yank it and it’s all over. Reward yourself with a lollipop!

I swear- betweeen congress critters biting their nails because they are unsure how much their constituency cares about foreclosure and the subprime debacle, to Bukkake and the Fed’s deep concern their banking brethren don’t take a major hit (and why should they when they can pass the losses on to you, the American consumer), to the damnable Wall Street predators who peddled this shit like it was Oxycontin and all their clients had a Rx as big and legitimate as the appetites of Lush Rimjob- I don’t know which of these goddamn detestable pussies are worse! Franklin, Jefferson, Washington couldn’t imagine what a bunch of wankers we’d become, getting ourselves all bundled up in a straitjacket of deriviatives and hanging upside down from a crane over a tank of sharks and only 30 seconds to escape. Hey, how’s that done by the way?

The same way it’s done on Wall Street, old cock, smoke and mirrors, smoke and mirrors.

Pain in French is bread, by the way- the metaphorical possibilities are boundless!

It’s not even bricks and mortar people, it’s sticks and gypsum and pergraniteel on a small plot of land- and it is that land which holds the intrinsic value of what you owe, not the structure, however pretty it may be.

Get over it already and let’s git ‘er done!

Welcome to the courthouse steps

No takers today?

Condo sales turn sour
“Market-distorting rebates and incentives helped move units at Vintage Grand, and banks are left with bad loans”

We have a tag team of assholes today:

“That was certainly the case with nine loans secured by Tampa real estate investor Michael Chadwick. In late February and early March 2007, Chadwick’s Sarasota real estate agent, Pat Brester, bought nine Vintage Grand units and immediately resold them to Chadwick at much higher prices, enabling the Tampa investor to get loans that exceeded original purchase prices by nearly $90,000.”

Sweetheart deal!

“‘I could not have carried the properties otherwise,’ he said.”

Smart move, dickhead.

“’All in all, it was just a bad real estate decision,’ Chadwick said. ‘I didn’t know how bad the market was going to get.’”

He was a victim.

“Chadwick filed for bankruptcy protection, listing $3.04 million in debts and $2.095 million in [declining] assets.”

Bailout Biatch alert!

[Hat tip]

–
Don’t lose a finger… catching a falling knife

Uh…. Okay

Those Cunts(tm) at Countrywide- the musical

Hat tip.

Faux vidiot gets pwned

Listen up, America

Douche o’ da day

Ask the, (ahem) experts

What exactly makes someone an expert?

ex·pert: having, involving, or displaying special skill or knowledge derived from training or experience

This NPR story tells how “reformed” subprime brokers are using their “special skill or knowledge derived from training or experience” helping out FBers (Fucked Buyers - who they helped to fuck, BTW) with the onerous terms of the loans they sold them, in order to keep them in their homes, and perhaps assuage some of that guilt over their long-gone blood money. The irony is stultifying.

One Bailout Biatch in this tale was formerly with New Century. She “earned” $500,000 one year, owned a boat and three homes- all since reposessed by the lenders, presumably.

Another ex-douche broker:

Anthony Narag worked as a loan officer for several different mortgage brokerage outfits in Southern California. He says everybody in the industry knew there was fraud all over the place: “It’s almost like baseball with steroids. They knew about it, but they didn’t do anything about it.”

”                   ”*

Narag says he also observed brokers printing fake bank statements or other income documents, and that there was a black market for these items. Everybody — including the lenders and banks buying these loans — looked the other way, Narang says, because the money was so good.

”                   ”

Narag got into the business himself after buying his own house: He saw that his loan officer wore shorts, didn’t work that hard and raked in money. So Narag quit his job as a sales manager and was soon making $10,000 to $15,000 a month easily — without gouging his customers, he says. Brokers who did gouge their clients could make much more than that, he says.

He says. Read the entire piece for more gruesome hard luck tales of brokers left with thumbs inserted in their anal cavities when the music stopped playing. Oh, and listen to the audio piece too… amazing.

The more I read about these sleazebag mortgage brokers the more I am reminded of David Mamet’s Glengarry Glen Ross- another sordid tale of people pushing real estate lies on gullible suckas who couldn’t afford it.

Life imitating art, or the other way ’round?

* Grammatical indicator for ”I’m speechless”

–
“What ten good men can do easily,can be undone by one bad man.”

American Infantile

Las Vegas Scum

No asshole today

Just cunts.

Biting

Commenters on a blog can bite back- so be careful what you say!

That’s what this Realtwhore is finding out.

She is soliciting for clients to let her help them buy a new home BEFORE they foreclose on their current one. That’s right, she turned them once (into nice ninja loans) and now she wants to turn them again.

Kathy is surely an overacheiver!

Maybe business wouldn’t be so bad right now if the RE industry as a whole wasn’t so greedy that they killed their future prospects off for short term gain.

Continuing to assist clients in perpetrating fraud is no way to make a living.

–
“Please. God. Just. One. More. Bubble.”